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TS' Trading Journal (Since 2014/9/8)


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TS' Trading Journal (Since 2014/9/8)

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  #51 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
Broker: Interactive Broker
Trading: Stocks
 
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Pre-Market Object
1. Limit num of trades (Yes)
2. Limit position size (Yes)

-------------------------------------------
Summary

Total 5 Trades
4 wins, 1 loss
4 Logical entry, 1 emotional trades
-------------------------------------------


SPY:

1st trade: short @188.17, target @188.80, stop @188.52 (exit @188.11), +6 ticks
I was fading the break out of openning high. Even though the MA was climbing, considering the first 3 bear bars, I expected a touch to MA. I knew it is not a high probability trade, so I got out once I do not feel very confident.

2nd trade: long @188.53, target @188.68, stop @188.42, target filled, +15 ticks
I entered breakout of opnenning high, but I was not sure about how much the price will move up excatly, so I scalped for 15 ticks.

3rd trade: short @188.50, target @188.20, stop @188.75 (exited @188.67), -18 ticks
I still held the idea that the price may go down to the open level or even today's low. Once I sas a bear bar forming and the price came back to the openning range, I shorted there expecting further downside movement, at least to the level of trendling. But my entry bar still closed above the openning high, I lost half of my confidence. When the next bar failed to break the low of my entry bar I exited the trade.

4th trade: long@188.68, target @??, stop @188.45 (exited @188.86), +18 ticks
The 4th trade was caused an emotional entry, I reversed to long from the 3rd short trade. I was thinking that with a climbing MA and previous good size bull bar a long trade could not be too wrong. I doubted that if the price could make a measured movement to the area of 189.42 or not, so I got out with scalping profit.

5th trade: long @188.90, target @189.10, stop @188.68, target filled, +20 ticks
The bear bar before my entry bar is a failed downside breakout, so I got in at the high of the bear bar. Got out early.


But now I am not upset about missing profit, it just reflect my ability of trading. When I am not enough exprienced and skillful, I am just not be able to catch as much profit as I want. By holding this idea, I will not get frustrated and enter many emotional trades.

Good Weekend to everyone!

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  #52 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
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Trading: Stocks
 
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Posts: 272 since Jun 2014
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Monday: +/-0
Tuesday: +98 ticks
Wednesday: -32 ticks
Thursday: No trade
Friday: +41 ticks

I'll keep trading no more than 100 shares in October to cultivate a good habit of trading size and number of trade. The key for me is to have a peace mental environment, never get emotaional about missing profit, missing enter opportunities, lossing trade, positive daily P/L etc,.

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  #53 (permalink)
Wuhan, Hubei, China
 
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Posts: 272 since Jun 2014
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Another catastrophic day, totally numb~ Lost several hundreds $.

The most painful part is the failure of myself, overtrade and oversize. I dreamt of high school math exam again~

Now I realize that the self-discipline is something we see behind a glass wall. It seems so clear and easy, and sometime I can achieve it, but it is not yet something I've gain totally control.


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  #54 (permalink)
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tshunhu View Post
Another catastrophic day, totally numb~ Lost several hundreds $.

The most painful part is the failure of myself, overtrade and oversize. I dreamt of high school math exam again~

Now I realize that the self-discipline is something we see behind a glass wall. It seems so clear and easy, and sometime I can achieve it, but it is not yet something I've gain totally control.


Identify one or two very specific problems, then focus on those items every day and forget everything else.

Grade yourself daily on how well you accomplished those goals, not profit.

Spend as much time as needed to refine these one or two problems into strengths before moving on.

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  #55 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
Platform: NinjaTrader
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Posts: 272 since Jun 2014
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Big Mike View Post
Identify one or two very specific problems, then focus on those items every day and forget everything else.

Grade yourself daily on how well you accomplished those goals, not profit.

Spend as much time as needed to refine these one or two problems into strengths before moving on.

Sent from my LG Optimus G Pro

Thank you Mike!

I shall stop trading for a while, at least for the rest of this week. I was not doing well since October, something in my mind is not right. I do not have the original learning attitude any more. I feel unbalanced, confused. After last huge loss of the Tuesday two weeks before, I tried to clear my mind. I did better last week, gained some confidence. But once I think I can control something, I lose the control.

I think mindset is the most important step toward constant profitablity, than comes the technics and so on. Now I just find that the seesaw match with myself to win self-discipline is very painful. It was the same way when I learn to put stop order, get hurt, learn, forget, hurt again, learn harder, at last it becomes a habit, a rule for myself.

I think it is the way of learning for myself, the main issues for now is to make sure that I'm progressing and do not lose too much. I feel that limiting the number of trade, trading position is more difficult than placing stop order. I'll keep working on this, hope that I can gain self control as early as possible.

I discuss this issue with my wife and we thought a lot about trading. We found that a successful trader must have many qualities that can actually lead to sucess in many other aspects of life, such as humble/honest/calm/focus. I'm doing better than the very beginning by learning all these stuff.

Please wish me good luck, and good trades to every one

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  #56 (permalink)
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tshunhu View Post
Please wish me good luck, and good trades to every one

Certainly, good luck!

This stuff is hard. I think you are working with what's most important now.

Again, good luck.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #57 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
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Posts: 272 since Jun 2014
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Monday: great lost
Tuesday: great win
Wednesday - Friday: No trade

Tuesday I covered all the loss of monday and stopped trading for the rest of this week. I've thought a lot about my trading bahavior and mental status.

I found that I was totally constrained by the idea of trading plan and discipline. I had the idea that all trades should be managed exactly according to my trading plan or strategy. The plan/strategy will get thicker and more detailed as experience and skills learned. But this is not a good way, at least not for me. It brings a lot of pressure to myself, as I'm always under the wareness that the number of trade and singal of entry are limited.

The main point of trading plan is to provide oneself a explicit outline to guide trading behavior and contrain any possible catastropic losing mind behavior. But it should remain a guide, not a detailed regulations to control every aspect of trading. Holding the idea that I should behave according to my trading plan brings me a lot of pressure, and heavily influenced my decision making, the result is a very unstable mental environment. Once I have a losing trade, I suffer more from it and place more unwise trades.

I'm not suggesting that trading plan/strategy is useless or has a lot of side effect. If I remember well, there was a speech about the code of pirates in the movie 'Pirates of the Caribbean'. The idea is that the code of pirates is to providing all sailors a guide to survive in the sea, but not a rule that requires anyone to mimic the words.

I think that giving myself a detailed plan and obligate myself to behave strictly according to it is not a self-confident way to manage trades. The idea of trusting oneself or anyone else is to provide a suitable space for them to perform and a explicit/strict ontline to prevent any serious consequence. If the boundry has been drawn too close and impedes the perform of normal behavior, then it could be broken easily.

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  #58 (permalink)
Wuhan, Hubei, China
 
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20141027


20141028


I do not have time to go through every trade, but in general I still cannot hold a winning trade. But when I place a trade, I do feel better as I keep telling myself that the logic of every entry is sound to my current judgement skill.

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  #59 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
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Posts: 272 since Jun 2014
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I have not done anything wrong On Monday and Tuesday, Wednesday I digged a deep hole to bury myself by thinking I'm ready to trade bigger size than 100 shares.

I was not doing well since the beginning of September. And I keep comtemplating the reason for the last few weeks. Actually, there are some clues suggesting that changes in my life must influenced my mental environment in trading.

I shall not focus on making money from trading, as I stated in my trading plan, I have lost my mind in account balance and dailty profit.

The only way out is to make progress and accumulating step by step~

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  #60 (permalink)
Wuhan, Hubei, China
 
Experience: Beginner
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Trading: Stocks
 
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Posts: 272 since Jun 2014
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Hi Everyone, I just came back from a trip to the west of china~ Long trip~

I used this period of time to take a rest and free myself from focusing on trading~

Hope I will be able to trade without thinking to much on lose and gain, but more on the process as a journey to exploring the market and inner mental world~

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